(Reuters) – Futures linked to Canada’s primary stock index held steady on Friday, although the benchmark was on track for its biggest weekly fall in nearly six months.
The futures on the S&P/TSX index were down 1% at 6:25 a.m. ET (1125 GMT).
The S&P/TSX composite index dropped 286.78 points, or 1.2%, on Thursday, settling at 24,584.04. The index was set to drop 3.2% for the week, the biggest loss since September 2024 if losses hold post open.
Throughout the week, investors navigated a roller coaster of trade uncertainties. On Tuesday, U.S. President Donald Trump’s 25% tariffs on imports from Canada and Mexico took effect. But, in the latest twist on Thursday, Trump announced an exemption for goods from both nations under a North American trade pact, lasting a month.
On the economic data front, Canada’s labor report for February is scheduled for release at 8:30 a.m. ET on Friday. Concurrently, the U.S. Labor Department’s nonfarm payrolls report is anticipated to reveal an addition of 160,000 jobs in February.
Market participants will also be monitoring comments from U.S. Federal Reserve Chair Jerome Powell at 12:30 p.m. ET, which may offer clarity on the central bank’s policy direction.
In the commodities sector, oil prices rose 1.34% on Friday, but were still on course for a nearly 4% weekly decline.
Copper prices surged to their highest level in nearly five months, buoyed by optimism over potential stimulus from China, the world’s leading consumer.
In corporate news, Circle-K owner Alimentation Couche-Tard said on Friday that its top executives will visit Tokyo to speak with media about its $47 billion bid to buy 7-Eleven convenience store operator Seven & I Holdings.
(Reporting by Pranav Kashyap in Bangalore; Editing by Sahal Muhammed)
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